18th Nov 2005 08:07
Stagecoach Group PLC18 November 2005 STAGECOACH GROUP PLCPossible disposal of New Zealand operations 18 November 2005 Stagecoach Group plc ("Stagecoach") notes the statement made today by InfratilLimited ("Infratil", a company listed on the New Zealand Stock Exchange that isa specialist investor in infrastructure and utility assets) regarding the futureof Stagecoach's New Zealand operations. Stagecoach confirms that it has received several approaches that may lead to itdisposing of its entire New Zealand operations, and that it is currently indiscussions regarding a possible sale to Infratil. At the current time, there isno certainty that the disposal will proceed. Stagecoach's New Zealand bus operations are centred on Auckland and Wellington,the two largest metropolitan areas of the country. Stagecoach New Zealand alsooperates Fullers Ferries, which runs ferry services off Auckland. The 2005Stagecoach Annual Report reported that the Group's results for the financialyear ended 30 April 2005 included turnover of £59.0m and operating profit beforegoodwill amortisation of £8.7m in respect of New Zealand. A further announcement will be made in due course. CONTACTS: Telephone Stagecoach Group plc Martin Griffiths, Finance Director 01738 442 111 Steven Stewart, Head of Media & Public Affairs 01738 442 111 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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